XTX Topco Ltd Buys Shares of 3,826 Burke & Herbert Financial Services Corp. (NASDAQ:BHRB)

XTX Topco Ltd purchased a new position in shares of Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 3,826 shares of the company’s stock, valued at approximately $239,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. increased its position in Burke & Herbert Financial Services by 3.2% during the 4th quarter. Vanguard Group Inc. now owns 732,163 shares of the company’s stock valued at $45,658,000 after buying an additional 22,559 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Burke & Herbert Financial Services by 5.2% during the third quarter. Geode Capital Management LLC now owns 306,243 shares of the company’s stock valued at $18,681,000 after acquiring an additional 15,092 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Burke & Herbert Financial Services by 1.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 110,559 shares of the company’s stock worth $6,894,000 after purchasing an additional 2,078 shares during the last quarter. Verdence Capital Advisors LLC raised its holdings in shares of Burke & Herbert Financial Services by 32.8% in the fourth quarter. Verdence Capital Advisors LLC now owns 68,384 shares of the company’s stock worth $4,264,000 after buying an additional 16,884 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of Burke & Herbert Financial Services by 94.4% during the fourth quarter. JPMorgan Chase & Co. now owns 64,526 shares of the company’s stock worth $4,024,000 after buying an additional 31,327 shares during the period.

Insider Activity at Burke & Herbert Financial Services

In other Burke & Herbert Financial Services news, Director Julian Forrest Jr. Barnwell bought 5,000 shares of the company’s stock in a transaction dated Thursday, February 13th. The shares were purchased at an average cost of $63.75 per share, for a total transaction of $318,750.00. Following the transaction, the director now directly owns 187,939 shares of the company’s stock, valued at approximately $11,981,111.25. The trade was a 2.73 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Shawn Patrick Mclaughlin purchased 1,000 shares of Burke & Herbert Financial Services stock in a transaction that occurred on Wednesday, January 29th. The stock was acquired at an average cost of $63.00 per share, with a total value of $63,000.00. Following the acquisition, the director now directly owns 62,000 shares in the company, valued at $3,906,000. This trade represents a 1.64 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 19,140 shares of company stock worth $1,195,743. 10.92% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods upgraded Burke & Herbert Financial Services from a “market perform” rating to an “outperform” rating and reduced their target price for the stock from $79.00 to $76.00 in a research note on Monday, January 27th.

Burke & Herbert Financial Services Price Performance

Shares of NASDAQ BHRB opened at $51.51 on Friday. The business’s 50 day moving average price is $56.05 and its 200 day moving average price is $61.77. The firm has a market cap of $771.77 million and a P/E ratio of 21.46. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.15. Burke & Herbert Financial Services Corp. has a 52 week low of $46.00 and a 52 week high of $75.32.

Burke & Herbert Financial Services (NASDAQ:BHRB) last posted its earnings results on Friday, April 25th. The company reported $1.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.78 by $0.02. The company had revenue of $83.01 million during the quarter, compared to the consensus estimate of $85.50 million. Burke & Herbert Financial Services had a net margin of 8.88% and a return on equity of 15.15%. On average, sell-side analysts expect that Burke & Herbert Financial Services Corp. will post 8.05 earnings per share for the current year.

Burke & Herbert Financial Services declared that its Board of Directors has initiated a share repurchase plan on Friday, April 25th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the company to buy up to 6.5% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Burke & Herbert Financial Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Thursday, May 15th will be issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 4.27%. Burke & Herbert Financial Services’s dividend payout ratio (DPR) is 91.67%.

Burke & Herbert Financial Services Profile

Burke Herbert Financial Services Corp. is a bank holding company, which engages in the provision of banking products and financial services to small to medium-sized businesses, their owners and employees, professional corporations, non-profits, and individuals. It operates through the following loan portfolio segments: Commercial Real Estate, Owner-Occupied Commercial Real Estate, Acquisition, Construction, and Development, Commercial and Industrial, Single Family Residential (1-4 Units), and Consumer Non-Real Estate and Other.